Business development company Sierra Income Corporation (SIC) has invested more than $90 million in the second quarter of 2014, the firm said in a statement.
The BDC, which is sponsored by the New York based Medley Capital Corporation, targets senior secured investments in US mid-market companies and originated ten transactions over the last three months.
They include a senior secured first lien term loan and equity investment in a developer and manufacturer of nutritional products; a senior secured first lien term loan made to a restaurant management company operating in more than 200 locations; and a senior secured second lien term loan to a manufacturer and distributor of motorcycle parts and accessories.
Seth Taube (pictured), chief executive of SIC, said: “The growth of our lending portfolio, combined with our ability to co-invest among funds, allow us the ability to provide innovative financing solutions to a broad range of dynamic middle market companies.”
Funding for transactions over the first half of the year now amounts to $160 million across twenty transactions.
SIC invests in companies with enterprise values ranging between $50 million and $4 billion. The BDC is advised by SIC Advisors, which is an affiliate of Medley Capital Corporation, a credit focused asset management firm listed on the NYSE with approximately $3.2 billion AUM.